Page:United States Statutes at Large Volume 61 Part 3.djvu/645

 INTERNATIONAL AGREEMENTS OTHER THAN TREATIES [61 STAT. for the economic welfare of the country rests with the Greek Govern- ment, and it is therefore proceeding with plans for the early institu- tion and vigorous administration of those measures which will enable full use of capital, productive facilities, manpower resources and natu- ral wealth to be found in Greece. Certain measures proposed by the Greek Government are stated in general terms in this note, these and other measures will be developed further after consultation with Amer- ican advisers. Rehabilitation of In order to achieve budgetary balance and economic stability at the national revenue budgetary balance and economic stability at the system, etc. earliest possible time the Greek Government will undertake to rehabili- tate its national and local revenue system by all necessary measures including the modernization of tax administration, elimination of tax evasion and the use of every practicable source of revenue. Full regard will be given to equitable distribution of the tax burden and to the principle of ability to pay. Measures will be taken to control and curtail expenditures of the Government. The Government audit and accounting system will be strengthened, and the budget will be published and used as an effective control of expenditures. Incrhase of foreign With a view to steadily increasing the ratio of official acquisitions exchange, etc. of foreign exchange to import requirements, a program will be under- taken to increase the amounts of foreign exchange coming into the Greek economy through normal commercial channels. Vigorous efforts to increase exports, including the resumption of the export of olive oil and the rebuilding of foreign markets, will be made. Measures will be adopted to assure the operation of Greek shipping in a manner which will provide the greatest benefit for the national economy. Existing regulations on the import and export of foreign exchange will be enforced and strengthened by all possible means. To make the most effective use of available exchange, imports will be limited to those which are essential to the Greek economy, and they will be brought in as an integral part of a national import program Foregn trade corn- which includes goods purchased with American aid. The planning and supervising of the administration of the program of public and private imports and exports will be centralized in a foreign trade committee comprizing Greek and American technicians and headed Prie ontrols, etc. by an American in the employ of the Greek Government. To guard against further inflation, a vigorous program will be undertaken to hold down prices and to establish an equitable relation between prices and wages. As further deterrents to inflation, rent control and rationing of commodities will be continued and controls on credit and banking will be instituted. Agricultural and In- dustria production. The agricultural and industrial production of the country will be increased by Government guidance and financial assistance. Unduly restrictive taxes, detrimental employment practices and monopoly regulations will be reexamined and all unnecessary deterrents to production eliminated. To this end the Greek Government will en- courage increased labor productivity while fostering the right of workers to organize and join free democratic labor unions and to 2934

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